Big Five Canadian Bank Invests $1.5 Million in Kofax Software

Kofax^® Limited (NASDAQ and LSE: KFX), a leading provider of software to simplify and transform the First Mile™ of customer engagements, today announced that a big five Canadian bank has invested more than an additional $1.5 million in Kofax solutions to enhance the bank's customer experience. The bank, a current Kofax customer, is expanding its existing solution in order to process approximately 100 million pages of banking documents over the next three years.

"This customer is like many deepening their partnership with Kofax to automate business processes and improve customer service on an enterprise scale," said Howard Dratler, Executive Vice President of Field Operations at Kofax. "The bank has been using Kofax Capture™ and Kofax Transformation Modules™ for years, and is extending its solution to include Kofax TotalAgility™ for process automation, Kofax Analytics for Capture™ for richer insight into its business and the Kofax Mobile Capture Platform™ for new approaches to customer engagement. This investment in additional Kofax products also includes Kofax Kapow™ and Kofax Altosoft Insight™ and will prepare the bank for handling new initiatives."

The solution includes:

Kofax Capture provides industry leading scan-to-archive capabilities by scanning documents and forms to create digital images, extracting index data for retrieval purposes and delivering the images and associated data to a variety of repositories and applications.

Kofax Transformation Modules is an integrated platform of applications that streamline the transformation of different document types into structured electronic information, ready for delivery into business systems and processes.

Kofax TotalAgility is the world’s first unified process automation platform. TotalAgility provides an essential link between an organization’s systems of engagement and systems of record to help increase responsiveness to customers, improve service levels and gain competitive advantage in order to better manage and grow businesses while greatly reducing operating costs.

Kofax Mobile Capture™ Platform enables organizations to create dynamic mobile applications that integrate capture and process management capabilities to streamline information intensive customer interactions and extend self-service capabilities. It turns mobile devices into information capture devices that deliver more engaging applications that "meet customers where they are" in the anywhere, anytime manner they increasingly prefer.

Kofax Analytics for Capture provides intelligent dashboards for increasing the effectiveness of Kofax capture software. It delivers interactive process intelligence and visualization into system performance, accuracy and productivity enabling administrators to improve efficiencies and system throughput.

Kofax Altosoft Insight features rapid, no-coding development of near real-time reporting and dashboard applications. It provides real-time, extremely low latency process and data analytics, visualization and ETL (extract, transform, load) capabilities for data and process analytics.

The Kofax Kapow integration and work automation platform is the fastest way to acquire, enhance, and deliver information to enterprise applications. The software automates the acquisition and integration of information—in particular websites and web portals—to an organization’s business applications, without the need for coding. Information that was previously unattainable, unusable or costly to integrate becomes readily consumable to drive productivity and add insight into the decision making process.

This purchase closed in the second quarter of Kofax's fiscal year 2015 and totaled more than $1.3 million in software license revenue and $200,000 in maintenance services.

About Kofax

Kofax is a leading provider of software to simplify and transform the First Mile™ of customer engagements. Success in the First Mile can dramatically improve the customer experience, greatly reduce operating costs and increase competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, supply chain, business process outsourcing and other markets. Kofax delivers these through its direct sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.

© 2015 Kofax Limited. Kofax and TotalAgility are registered trademarks and First Mile, Kofax Capture, Kofax Transformation Module, Kofax Mobile Capture, Kofax Analytics for Capture, Kofax Altosoft Insight and Kofax Kapow are trademarks of Kofax Limited.

Source: Kofax